The Enforcement Directorate (ED) has provisionally attached assets worth Rs 127 crore in the Rs 3,700 crore Yes Bank fraud case.
The attached property is a residential flat of Rana Kapoor at Apartment 1, 77 South Audley Street, London, UK. The market value of the flat is 13.5 million pound (Rs 127 crore). The property was purchased by Kapoor in 2017 for 9.9 million pound (Rs 93 Crore) in the name of DOIT Creations Jersey Limited and Kapoor is its beneficial owner.
“Information from a reliable source revealed that Rana Kapoor is trying to alienate this property in London and that he has hired a reputed property consultant. Enquiries from open sources confirmed that this property has been listed for sale on several websites,” the ED said in a statement.
The initiated investigation under PMLA against Rana Kapoor and others on the basis of FIR registered by CBI under various IPC Sections like cheating and criminal conspiracy and relevant provisions of the Prevention of Corruption Act.
The CBI FIR disclosed that during April to June, 2018, Yes Bank Limited had invested Rs 3,700 crore in the short term debentures of DHFL. Simultaneously, Kapil Wadhawan of DHFL paid kickback of Rs. 600 crore to Rana Kapoor and his family members in the garb of loan of Rs 600 crore (given by DHFL) to DOIT Urban Ventures (India) Pvt. Ltd (Rana Kapoor Group Company).
In addition, Yes Bank had also sanctioned a loan of Rs 750 crore to RKW Developers, a Group company of DHFL beneficially owned by Kapil Wadhawan, Dheeraj Wadhawan and their family members. The said loan of Rs 750 crore had been sanctioned to them for their Bandra Reclamation Project, Mumbai, but the whole amount was siphoned off by Kapil Wadhawan and Dheeraj Wadhawan through their shell companies.
Rana Kapoor, Kapil Wadhawan and Dheeraj Wadhawan were arrested by ED for their role in money laundering and are currently undergoing judicial custody.
Including the latest attachment of assets worth Rs 127 crore, the total seizures under PMLA in this case stands at Rs 2,011 crore. Among these attachments proceeds of crime amounting to Rs 600 crore belong to Rana Kapoor and the remaining attached assets worth Rs 1,411 crore are related to Wadhawan brothers.
Prosecution complaints (charge-sheets) have been filed against Rana Kapoor, Kapil Wadhawan, Dheeraj Wadhawan and others. In another separate PMLA case, the ED has also attached an asset amounting to Rs 307 crore of Rana Kapoor. Further investigation is under progress, the agency added.